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India Reportedly Plans USD10.8B Fund to Support Domestic Chip Mfg
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India plans to launch a fund exceeding INR1 trillion (approximately USD10.8 billion) to support domestic chip manufacturing, Bloomberg reported. The fund will provide subsidies for chip design projects, manufacturing equipment, and supply chain development, expected to be launched within two to three months, sources divulged. Such measures will align with the country's other subsidy policies for smartphones and components to promote domestic manufacturing and exports, report added. The Indian Ministry of Technology, responsible for the fund, has not responded to requests for comment. AASTOCKS Financial News Website: www.aastocks.com |
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